Case Study: Holy Rosary Credit Union achieves deposit growth with ModernFi

How Holy Rosary Strengthened Its Member Offering and Unlocked Deposit Growth with ModernFi

Holy Rosary Credit Union, a mission-driven financial institution, faced the challenge of being unable to accept large deposits from its members due to the $250,000 NCUA insurance limit. This restriction prevented them from fully leveraging their strong community relationships for growth. To solve this, they partnered with ModernFi and utilized its services, including Extended Insurance Accounts.

The solution from ModernFi provided the infrastructure and support to offer members full insurance coverage on much larger deposits. This enabled Holy Rosary to quickly activate a new $10 million account for a longtime member, which alone represented a 20% growth in deposits. The partnership with ModernFi allowed the credit union to deepen member relationships and secure mission-aligned growth without increasing operational complexity.

Holy Rosary Credit Union

Carole Wight

Chief Executive Officer